CoreWeave ( CRWV ) shares are trading higher on Monday following the company’s announcement of a private offering for $1.5 billion in senior notes due 2031.

These notes, which will be guaranteed on a senior unsecured basis by certain wholly-owned subsidiaries, are intended to fund general corporate purposes, including the repayment of outstanding debt and associated offering expenses.

This news comes as Barclays analyst Raimo Lenschow maintained an Equal-Weight rating on the stock, while raising the price forecast from $100 to $140.

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This positive movement in CoreWeave’s stock contrasts with a recent Reduce rating initiated by HSBC analyst Abhishek Shukla last week, who set a $32 price forecast.

Shukla’s concerns centered on CoreWeave’s significant reliance on a few key clients, namely Microsoft ( MSFT ) , OpenAI, and Nvidia ( NVDA ) , who primarily utilize CoreWeave’s core GPU infrastructure rather than its software services.

Shukla argued that this concentrated customer base introduces vulnerability to CoreWeave’s business model and could limit its ability to retain clients.

He highlighted that Microsoft ( MSFT ) alone contributed 72% of CoreWeave’s first-quarter 2025 revenue, with Microsoft ( MSFT ) and OpenAI combined accounting for the bulk of its backlog.

HSBC also cautioned that the stock appeared overvalued, especially after experiencing a surge of over 240% since its public debut in March 2025.

Despite this recent analyst caution, CoreWeave ( CRWV ) stock has seen a substantial gain of 264% in the last three months. However, it has also experienced a decline of over 26% in the past 30 days.

Price Action: CoreWeave ( CRWV ) stock is trading higher by 4.38% to $128.41 at last check Monday.

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